About 80% of Europe's approximately 3000 unlicensed crypto trading platforms are at risk of shutting down

On July 1, the EU's crypto asset market regulatory framework MiCA will officially take effect on July 1, requiring crypto service providers to obtain licenses or withdraw from the market. According to reports, about 80% of the approximately 3000 unlicensed crypto trading platforms in Europe may face the risk of shutting down due to failing to meet the deadline, or stop providing services to local users, potentially affecting more than 10 million users. Users may be forced to move to compliance platforms.